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Acts passed by the General Assembly of the State of North Carolina [1829]

I.AWS OF XOHTH-CAROOIVA,
Enadedby a General ^sscmbly^ begiin ami held at Rnlei^/i on
the nxteenth day of JVovembevt in the year of our Lord
one thousand eight hundred and twenty-nine^ and in th&
fifty fourth year of the Independence of the said State*
JOHU OWSSr. ESQXTIIIE. GOVERWOR.
CHAPTER I.
An act to enable the State Bank to wind up gradually, and to fix a uniform rate
of collection.
Whereas manj of the good citizens of this State are indebted PreatnWe.
in large sums of money to the State Bank of North Carolina; and
whereas the collection of said sums of money by said bank,
previously to the first day of January, one thousand eight hun-dred
and thirty five, at which time the charter by the existing
laws must cease and determine, may lead to much individual
distress, and to general embarrassment; and whereas it is expe-dient
that the said bank should be enabled to call in the debts
due to it gradually, and by instalments, so that the colleuion
thereof may be as little oppressive to the people as the nature of
the case and the interests of said corporation will admit:
He it therefore enacted by the General .Assembly of the State of
North Carolina, and it is hereby amcted by the authority of the ,
same, That the several laws now in forte" relative to said bank.tiniTe' iiJfo?c^
be, and the same are hereby continued in full force until the fiist until isas.
day of January, one thousand eight hundred and thirty-eight, for
the purposes, and subject to the exception*, limitations and provi-sions
hereinafter mentioned.
II. ^nd be itfurther enacted, That after the thirty-first day of
December, one thousand eight hundred and thirty-four, it shall
^*'
V'"^^ ^I"
not be lawful for the president and directors of said bank, under teTsiT Dec'
any pretence whatever, to make any new loans, or to discount ^834.
any bill, bond or note, except such bill, bond or note be oflered
in renewal of, or in payment or substitution for some previously
existing debt.
III. Be it further enacted. That after the first dav of Septem- ^
ber, one thousand eight hundred and thirty, it shall "'not be lawful acco.mnoda-^'
for the president and directors of said bank, under any pretence lion paper to
whatever, to make any loans on what is called accommodation ^.^ '"^''^" "'^^
notes, or notes payable at *larger periods than three *annual in
^^^^' ^' ^^^^'
stalments of ninety days each, except such note be offered in
renewal of, or in payment or substitution for some previously
existing accommodation debt.
IV. ^nd be it further enacted. That it shall not be lawful for To issue n6
the president and directors of said Bank, after the thirty-first notes ondef
day of December, one thousand eight hundred and thirty-two, to** *^^^^ ^^'
issue an) bills or notes of said bank, under rhe denomination of*'
'^^^*
five dollars, or to re-issue any hilis or notes under the denomi-nation
of five dollars, that may have been by said bank previously
issutfd -'
T. ^n^ be it further enacted, That it shall out be lawful fpi-

I.AWS OF XOHTH-CAROOIVA,
Enadedby a General ^sscmbly^ begiin ami held at Rnlei^/i on
the nxteenth day of JVovembevt in the year of our Lord
one thousand eight hundred and twenty-nine^ and in th&
fifty fourth year of the Independence of the said State*
JOHU OWSSr. ESQXTIIIE. GOVERWOR.
CHAPTER I.
An act to enable the State Bank to wind up gradually, and to fix a uniform rate
of collection.
Whereas manj of the good citizens of this State are indebted PreatnWe.
in large sums of money to the State Bank of North Carolina; and
whereas the collection of said sums of money by said bank,
previously to the first day of January, one thousand eight hun-dred
and thirty five, at which time the charter by the existing
laws must cease and determine, may lead to much individual
distress, and to general embarrassment; and whereas it is expe-dient
that the said bank should be enabled to call in the debts
due to it gradually, and by instalments, so that the colleuion
thereof may be as little oppressive to the people as the nature of
the case and the interests of said corporation will admit:
He it therefore enacted by the General .Assembly of the State of
North Carolina, and it is hereby amcted by the authority of the ,
same, That the several laws now in forte" relative to said bank.tiniTe' iiJfo?c^
be, and the same are hereby continued in full force until the fiist until isas.
day of January, one thousand eight hundred and thirty-eight, for
the purposes, and subject to the exception*, limitations and provi-sions
hereinafter mentioned.
II. ^nd be itfurther enacted, That after the thirty-first day of
December, one thousand eight hundred and thirty-four, it shall
^*'
V'"^^ ^I"
not be lawful for the president and directors of said bank, under teTsiT Dec'
any pretence whatever, to make any new loans, or to discount ^834.
any bill, bond or note, except such bill, bond or note be oflered
in renewal of, or in payment or substitution for some previously
existing debt.
III. Be it further enacted. That after the first dav of Septem- ^
ber, one thousand eight hundred and thirty, it shall "'not be lawful acco.mnoda-^'
for the president and directors of said bank, under any pretence lion paper to
whatever, to make any loans on what is called accommodation ^.^ '"^''^" "'^^
notes, or notes payable at *larger periods than three *annual in
^^^^' ^' ^^^^'
stalments of ninety days each, except such note be offered in
renewal of, or in payment or substitution for some previously
existing accommodation debt.
IV. ^nd be it further enacted. That it shall not be lawful for To issue n6
the president and directors of said Bank, after the thirty-first notes ondef
day of December, one thousand eight hundred and thirty-two, to** *^^^^ ^^'
issue an) bills or notes of said bank, under rhe denomination of*'
'^^^*
five dollars, or to re-issue any hilis or notes under the denomi-nation
of five dollars, that may have been by said bank previously
issutfd -'
T. ^n^ be it further enacted, That it shall out be lawful fpi-